Summary of Notifications issued on 13.10.2017 in respect to recommendation made by the GST Council in its 22nd Meeting
By: – CASanjay Kumawat
Goods and Services Tax – GST
Dated:- 16-10-2017
List of Notifications
Based on the recommendation of the GST Council's 22nd meeting, the Central Government has issued various Notifications to make effective/applicable all the changes as recommended by the GST Council. List of Notifications and their particulars are as follows:
Notification No.
Integrated Tax (Rate)- 13.10.2017
*
Notification No. 32/2017
(On the similar lines, Notification No. 38/2017-Central Tax (Rate) dated 13.10.2017 has been issued under CGST Act, 2017)
* Exempts the inter-State supply of goods or services or both received by a registered person from unregistered supplier from the whole of the IGST leviable thereon under section 5(4) of the IGST Act.
The exemption contained in this notification shall apply to all registered persons till the 31st day
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, Union territory, local authority or any person specified by Central Government, State Government, Union territory or local authority against consideration received from Central Government, State Government, Union territory or local authority, in the form of grants.”
Entry No. 22A:
“Services provided by a goods transport agency to an unregistered person, including an unregistered casual taxable person, other than the specified recipients.”
Entry No. 24A:
“Service by way of access to a road or a bridge on payment of annuity.”
Widened the scope of exemption Entry No. 43 of the Notification No.09/2017- Integrated Tax dated 28.06.2017.
Revised text is as follows:
“Upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable in respect of service by way of granting of long term lease of thirty years, or more) of industrial plots or plots for development of infrastructure for financial business, provided by the State Government In
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equity or control, to carry out a function entrusted by the Central Government, State Government, Union Territory or a local authority.”.
Notification No. 34/2017
(On the similar lines, Notification No. 33/2017-Central Tax (Rate) dated 13.10.2017 has been issued under CGST Act, 2017)
Insertion of new entry for reverse charge mechanism in Notification No. 10/2017-Integrated Tax, dated 28.06.2017, are as follows:
* “Entry No. 12
Category of Supply of Services :
Supply of services by the members of Overseeing Committee to Reserve Bank of India
Supplier of service:
Members of Overseeing Committee constituted by the Reserve Bank of India
Recipient of Service:
Reserve Bank of India.”
Notification No. 35/2017
(On the similar lines, Notification No. 34/2017-Central Tax (Rate) dated 13.10.2017 has been issued under CGST Act, 2017)
Change in rate of various items
Notification No. 36/2017
(On the similar lines, Notification No. 35/2017-Central Tax (Rate) dated 13.10.2017
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2017 Act, 2017)
Change in the rate of tax for Motor Vehicle.
Chapter 87: Motor vehicle – 65% of integrated tax applicable otherwise on such goods under Notification No. 1/2017- Integrated Tax (Rate) dated, 28th June, 2017.
This is subject to following conditions:
* The Motor Vehicles was purchased by the lesser prior to 1st July, 2017 and supplied on lease before 1st July, 2017
i. The supplier of Motor Vehicle is a registered person.
ii. Such supplier had purchased the Motor Vehicle prior to 1st July, 2017 and has not availed input tax credit of central excise duty, Value Added Tax or any other taxes paid on such vehicles
Sunset period: On or after 1st July 2020.
Notification No. 39/2017
(On the similar lines, Notification No. 31/2017-Central Tax (Rate) dated 13.10.2017 has been issued under CGST Act, 2017)
Amendments of the GST rates for the following services:
* Composite supply of works contract as defined in clause (119) of section 2 of the CGST Act, 2017. –
* Ear
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on is not applicable in case of supply of taxable goods.
Notification No. 11/2017
(On the similar lines, Notification No. 39/2017-Central Tax dated 13.10.2017 has been issued under CGST Act, 2017)
Officers, who are authorized to be the proper officers for the purposes of section 54 or section 55 of the CGST Acts by the Commissioner of the CGST Act, 2017, shall act as proper officers for the purpose of sanction of refund under section 20 of the IGST Act.
Central Tax- 13.10.2017
Notification No. 40/2017
Notifies the registered person whose aggregate turnover in the preceding financial year did not exceed one crore and fifty lakh rupees or the registered person whose aggregate turnover in the year in which such person has obtained registration is likely to be less than one crore and fifty lakh rupees and who did not opt for the composition levy under section 10 of the CGST Act as the class of persons who shall pay the central tax on the outward supply of goods at the time of supply
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ds and Services Tax Rules, 2017 , till the 20th day of November, 2017.
Notification No. 43/2017
Extends the time limit for furnishing the return by an Input Service Distributor in FORM GSTR-6 for the months of July, 2017, August, 2017 and September, 2017 till the 15th day of November, 2017.
Notification No. 44/2017
Extends the time limit for making a declaration, in FORM GST ITC-01, by the registered persons, who have become eligible during the months of July, 2017, August, 2017 and September, 2017, to the effect that they are eligible to avail the input tax credit under sub-section (1) of section 18 of the CGST Act, till the 31st day of October, 2017.
Notification No. 45/2017
Amended the specified CGST Rules, are as follows:
* Rule-3 for Composition
* Insertion of New Rule 46A for Invoice cum bill of supply
* Rule 54 for consolidated tax invoices
* Rule 62 for GSTR-4
* Rule 3 for Form GST CMP-02
* In Form GSTR-1 , Zero rated Supply
* In Form GSTR-1A , Zero rated Su
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